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Zimbabwe Dollar Now At $5 591 Per US Dollar

1 year agoTue, 03 Oct 2023 15:38:29 GMT

Zimbabwe Dollar Now At $5 591 Per US Dollar

The Zimbabwe Dollar has depreciated significantly against the United States Dollar on the official forex market.

At the wholesale foreign currency auction conducted this Tuesday, 03 October, the Zimbabwe dollar averaged $5 591.9615, down from $5 252.6558 per US Dollar last week.

The Reserve Bank of Zimbabwe (RBZ) said 20 bids were received and all the bids were accepted and received allotments.

As usual, the total amount on offer was US$20 000 000.00. However, the total value of bids received was US$18 682 426.00 and a similar amount was allotted.

The highest rate was ZWL$5 700.0000 while the lowest bid rate was ZWL$5 562.0000.

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As the value of the Zimbabwe dollar continues to plummet, informal traders and public transport operators are rejecting the ZWL$50 note as they are now finding it burdensome to move around with huge bundles of “worthless” banknotes.

Economists say authorities should introduce higher denominations but there are fears that higher denomination notes will inadvertently increase the money supply.

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21 Comments

xyz · 1 year ago

kkkk the fastest growing economy....with the weakest currency.

Enzo Ishall · 1 year ago

🐵🐵 Ndosaka ndichifarira Chibhanguza

... · 1 year ago

manje ndauya naManake hanti iwewe une chikweret chake

Enzo Ishall · 1 year ago

🐵 wakapenga zvekuti chese chaunoda unotenga wobva watenda Samatenga

citizen · 1 year ago

government talks about growing economy when it's currency is nosediving 'zvinosekesa mbavha yakawhanda' we talk about vision 2030 middle income dream when vana Chivhayo nemi nevana venyu musiri mudream ra 2030 renyu iroro then nyika iri kuurawa nemika kwete kuvakwa you are destroying the economy not building it.

Anonymous · 1 year ago

Bad currency always chases good currency - this was proved a long time ago. Also currency depends on Uberimae Fidei

Rebel · 1 year ago

Zimbabwe dollars ndochii ichochi, fastest growing economy in the region with the weakest currency in the region kkkk

CHAWABVUNZA · 1 year ago

Who is fooling who here, Mnangagwa and Mnangagwa, Ncube and Mangudya ? Towards elections ZImbabwe Dollar falsely firmed strongly against the United States of America Dollar. Now after elections, the ZImbabwe Dollar is falling like a deck of cards. "You can rigg Elections and not economy ". This is my story and I am sticking to it. [ THE BUSH LAWYER4CCC ].

Apes · 1 year ago

Education is overrated in Zimbabwe tine mazupezupe anotonga nyika semahumbwe these zanupf zombies should be ashamed of themselves 43 yrs inpower vachibika mbodza

· 1 year ago

Strong currency in the region

@Vhedza · 1 year ago

Medicine to cure our currency is trust and it is not with us as Zimbabweans. We love foreign things whatever it maybe, as long as it is foreign.

trust my foot · 1 year ago

by trust do you mean trusting zanulocies (policies). you are doomed if you do that. a bank is supposed to generate interest for the investor but with zanulocies its the other way round. forget trust. we need a n ivibtant industry before we can talk of growing economy. that guy who lied abou fastest growing economy must have had a bad dream where he was growing the economy on his indigenous trees on his farm

Change money · 1 year ago

panosvika rate pa10 000 muchati zii

. · 1 year ago

rakambosvika rikadzokera apa rakudzoka kuzodzokorora pa 10k ipapo

Dark 🌑 Retribution Dark 🌑 · 1 year ago

I love ma Pounds, USD, Euros...zvimwe izvi hameno kuti chiii??? @Chiedza⚠️❤️⚠️

VaBhomba · 1 year ago

😊😊Ndingada kudanana newe ini. U will be the best girlfriend anonakidza

tame mtuli and his deputy · 1 year ago

busy taming public roads and emptying citizens pockets rather than taming the beast - inflation

maparamuro · 1 year ago

back to free fall now that the elections are over

mthuli ncube · 1 year ago

I'm baffled😬

Anonymous · 1 year ago

@Muthuli & Munangagwa your deputy, tipeiwo ma serious please. So far from my layman statistics, zim dollar radonha nemore than 700zw in a month. That is a lot but uri kubuda munews uchiti heee things are stable. Ndiyo inonzi cent by cent currency ichidonha. When do want to act Muthuli?